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AMRN

Amarin

$14.40

-0.99 (-6.43%)

10:30
11/14/18
11/14
10:30
11/14/18
10:30

Amarin attracts put buyers as shares see continued weakness

Amarin attracts put buyers as shares see continued weakness. The stock down $1.17 to $14.21 and has now dropped 38% since reaching multi-year highs on 11/5. In option action Wednesday, Dec 16 puts trade for $2.15 to $2.51 per contract. 5.3K changed hands against 3.1K open interest. 4.3K Nov 15 puts also changed hands. Jan 21 calls, Nov 14 puts, and Nov 17 puts are next most active. A total of 11K calls and 21K puts traded and 30-day implied volatility up 10.5% to 123. Weakness in shares today comes despite a Citi upgrade to Buy. Still, even after the sharp drop over the past two weeks, the stock is 380% above levels seen on 9/23 before an exponential move in the wake of results from a Vascepa cardiovascular outcomes trial. High option volume and IV suggests players expect the volatility to continue in the short-term.

AMRN Amarin
$14.40

-0.99 (-6.43%)

11/14/18
11/14/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Aramark (ARMK) upgraded to Outperform from Neutral at Baird analyst Andrew Wittmann citing its recent underperformance, improving free cash flow, roughly 10% earnings growth, synergy benefits, and a steadier business model. 2. CAE (CAE) upgraded to Outperform from Neutral at Macquarie. 3. TD Ameritrade (AMTD) upgraded to Overweight from Equal Weight at Morgan Stanley analyst Michael Cyprys saying he favors discount brokers in a more volatile, late cycle environment. 4. Amarin (AMRN) upgraded to Buy from Neutral at Citi with analyst Joel Beatty citing limited upside to his price target and increased investor expectations. 5. Superior Industries (SUP) upgraded to Buy from Neutral at Buckingham with analyst Glenn Chin saying Q3 results were inline with pre-announced results and the subsequent sell-off is overdone. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/14/18
SBSH
11/14/18
UPGRADE
Target $28
SBSH
Buy
Citi reverses recent Amarin downgrade, upgrades to Buy after 30% pullback
Citi analyst Joel Beatty upgraded Amarin to Buy from Neutral with an unchanged price target of $28. The stock closed yesterday down 22%, or $4.44, to $15.38. The analyst downgraded the shares to Neutral on November 2 citing limited upside to his price target and increased investor expectations. Beatty, however, believes the 30% pullback in Amarin shares over the past two days following the detailed Reduce-IT trial results creates an attractive entry point. The results "paint an attractive drug profile" for Vascepa, Beatty tells investors in a research note. He continues to predict the drug's peak sales will hit the multi-billions.
11/14/18
SBSH
11/14/18
UPGRADE
SBSH
Buy
Amarin upgraded to Buy from Neutral at Citi
11/13/18
CANT
11/13/18
NO CHANGE
Target $35
CANT
Overweight
Physicians not concerned about label for Vascepa, says Cantor Fitzgerald
Cantor Fitzgerald analyst Louise Chen said based on her discussions with doctors in attendance at the AHA meeting, she believes the physician community remains "very receptive" to the REDUCE-IT data and noted that "no one" she spoke with seemed concerned about label limitations for Vascepa. Chen also noted that an audience poll during one Continuing Medical Education program showed that nearly all of the physicians in the audience plan to prescribe EPA 4g/day for patients with triglycerides between 200-500 mg/dL. Chen maintains an Overweight rating and $35 price target on Amarin shares.

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IQ

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